alstry (< 20)

The Old People Bankrupted America

0

When the Old People started working in 1980, the total public and private debt in America was about $5 Trillion dollars. In just 30 years, the Old People mushroomed that debt 10X to over $50 Trillion dollars. The Old People had a lot of fun spending the money they borrowed. Everything seemed like it was booming and growing for 30 years. Ironically, about the same time frame Madoff operated his Ponzi Scheme.

It was this borrowed money that became the assets in the Old People's retirement, pension, savings, and investment accounts. It was this same borrowed money that made the Old People feel rich.

In 2008, the Old People had finally borrowed so much money they bankrupted America....and the world for that matter. So in 2009, instead of fixing things, the Old People borrowed TRILLIONS more from the Young People simply to keep their financial assets solvent so they could keep feeling rich.

The Old People didn't care if they could NEVER pay this money back to the Young People. They thought they were entitled to this money. After all, they are the Old People and they want to retire and force the Young People to be their slaves.

The Old People were scared. If the Old People didn't borrow trillions from the Young People, ALL of the financial assets in the world would have gone bankrupt. The Old People would have been broke.....JUST like the Young People that they borrowed the money from and bankrupted.

Only one Old People was kind enough to acknowledge this fact and thank the government for borrowing this massive amount of money from the Young People....his name was Warren Buffett and he said it in the New York Times in 2010.

But after the Old People took all the money, there was no opportunities for the Young People because the jobs vanished after the Old People bankrupted the economy. The Young People were frustrated. Not only was all their money borrowed away by the Old People, but they were convinced to borrow massively themselves to get an education so the Old People could make lots of money teaching subjects that were meaningless in their jobless world.

And to add insult to injury, when the Young People started protesting PEACEFULLY about this injustice....what did the Old People do? They started mocking the Young People and spraying poison into their faces while the Young People were just sitting there:

So here we are...The Old People Bankrupted America and The Young People have little opportunity in a bankrupt system. At this point, there is only one reasonable choice...scrap the old system and create a new one from scratch. A system that is solvent. A system that is sustainable. A system that is fair and just. A system based on a rule of law where justice is applied to everyone....or else there is no justice.

For a while I thought there was hope for you, and that you would post something meaningful to stimulate reasoned thought and discussion; but now it is obvious you have no life, and simply post "drivel" for the purpose of getting attention.

Your logic is flawed, and your rationale is totally irrational.

I'm not saying this because I am an "Old People", and you "hit a nerve". I'm saying it because most of your posts no longer have any value. They have become, for the most part, "nonsense".

By the way, I don't think the two "campus cops" who pepper sprayed the protestors qualify as "Old People".

The old people are the Greatest Generation. The people in their late 80s. The people who were kids during the Great Depression and were taught the importance of saving from day 1. The old people are the ones who fought in World War II. These in the Greatest Generation held on to every dollar they possibly could back when the dollar was worth something, i.e. tied to gold. Back when you could buy a nice house for $35,000.

Goes to show how little this Alstry spammer actually knows about anything. He is referring to people in the Baby Boomer generation as "Old People" He must be 16 years old or something.

He promotes his website the same way the other spammers promote the oil trading academy. Those spams are deleted from this site, but not Alstry's. That's a shame. This site would be far less filled with clutter without worthless spam from this person.

As a "Lucky to be alive lived through Civil Rights and Vietnam War Struggle Old Person", I say that alstry should change his or her name to astray. Yep, they are a stray of actual history and economics.

A person who lacks historical knowledge is doomed to repeat the mistakes of others, who engulfed by their predujices, turn their frustrations into hatred of "the other".

I hope that astray doesn't follow this path, that has led to such horrors as lynching of African Americans, killings of Latinos and gays, as they all are "the others" and like the so-called logic of "the old people bankrupted America" essay.

Signed: "Lucky to be alive lived through Civil Rights and Vietnam War Struggle Old Person"

Thanks, Leohass. Happy Thanksgiving to you and yours. I am glad we have some common ground!

I learned the value of a dollar from the Greatest Generation. I have known millionaires from that generation who continued to use coupons at the grocery store well after their money was made. People who would still drive through a small town on a road trip and go through the entire town in search of the cheapest gas. Some would magically have some hospital toilet paper end up in their homes, or some restaurant ketchup packets or napkins ending up in their home kitchen by forces of nature I just can't explain. Those people were the most affected by a cheapened dollar. Those that are still alive aren't making squat on their savings due to low interest rates, and their buying power has far been diminished. At least the young people have time on their side to make they own way in the world in terms of earning power potential.

Those in the Greatest Generation saved and invested first. Then they spent prudently and wisely. Today it's the other way around except the savings rate is probably non existent with most younger people. We live in a spend-first, save-someday-if-ever society. Young people could learn a lot from someone in their 80s. They ought to occupy a nursing home and talk to some of these people and glean some words of wisdom from them while they are still around.

I do know those in the Greatest Generation would do virtually any legal job they could to make ends meet. I can't say the same about the youth of today. Not even close.